Form 4: Cineverse Corp. CEO Christopher McGurk Reports Changes in Beneficial Ownership
SEC Form 4 Filing
CEO Christopher McGurk reports changes in his beneficial ownership of Cineverse Corp. stock, including the acquisition of restricted stock units.
Summary
- Christopher J. McGurk, CEO and Chairman of Cineverse Corp., filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
- The report includes the acquisition of 120,000 restricted stock units (RSUs) on May 1, 2025, each representing one share of Class A common stock.
- These RSUs vest in three equal installments of 40,000 shares on May 1 of 2026, 2027, and 2028.
- McGurk also directly owns 492,519 shares of Class A Common Stock and indirectly owns 103,526 shares through the Christopher and Jamie McGurk Living Trust.
- The report also details stock appreciation rights (SARs) with various exercise prices and expiration dates.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing simply reports changes in beneficial ownership, which is a routine activity. The acquisition of RSUs is a positive sign, but it's not a major event.
Positives
- The acquisition of restricted stock units aligns the CEO's interests with those of the shareholders, incentivizing him to improve the company's performance.
- The vesting schedule of the RSUs encourages long-term commitment from the CEO.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. Investors monitor these filings to gain insights into management's confidence in the company's prospects.
Stakeholder Impact
- The reported transactions provide shareholders with insight into the CEO's holdings and alignment with their interests.
Key Dates
| Date | Description |
|---|---|
| 03/31/2019 | One-third of the $29.4 stock appreciation rights vested. |
| 03/31/2020 | One-third of the $29.4 stock appreciation rights vested. |
| 03/31/2021 | One-third of the $29.4 stock appreciation rights vested. |
| 11/19/2020 | 62,500 of the $10.8 stock appreciation rights vested. |
| 04/01/2023 | 41,666 of the $9.6 stock appreciation rights vested. |
| 03/31/2023 | 62,500 of the $10.8 stock appreciation rights vested. |
| 04/01/2024 | 41,666 of the $9.6 stock appreciation rights vested. |
| 04/01/2025 | 41,668 of the $9.6 stock appreciation rights vested. |
| 04/25/2025 | 50,000 shares of restricted stock vest. |
| 05/01/2025 | Date of the reported transaction and acquisition of 120,000 RSUs. |
| 05/05/2025 | Date of the report. |
| 04/25/2026 | 50,000 shares of restricted stock vest. |
| 05/01/2026 | 40,000 RSUs vest. |
| 04/25/2027 | 50,000 shares of restricted stock vest. |
| 05/01/2027 | 40,000 RSUs vest. |
| 06/07/2028 | Expiration date of stock appreciation rights with exercise price of $29.4. |
| 05/01/2028 | 40,000 RSUs vest. |
| 11/19/2030 | Expiration date of stock appreciation rights with exercise price of $10.8. |
| 10/17/2032 | Expiration date of stock appreciation rights with exercise price of $9.6. |
Keywords
Cineverse Corp., Christopher McGurk, Beneficial Ownership, Form 4, Restricted Stock Units, Stock Appreciation Rights, CNVS
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